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receivership

The most expensive purchase for most couples is their home. When they file for divorce, preserving the equity in that home becomes a natural priority. Equity can be a source of retirement income, starting over cash, or part of a property settlement. A "receivership" is when a family court judge places property under the court's control and appoints a person called a "receiver" to preserve it. The receivership stops lenders from foreclosing, attaching, garnishing, sequestering, or selling the property without the court's permission.